Subsequent Events |
6 Months Ended |
|---|---|
Dec. 31, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 17 - Subsequent Events
On January 1, 2021, the Company paid cash to investors in satisfaction of $110,000 of principal on a convertible note.
On January 13, 2021, the Company entered into a twelve month structured loan agreement for $385,000 with equal installment payments due each month starting in month five. The loan bears 10% annual interest and has a convertible default provision in the event the company does not make the monthly payments. 5,000,000 shares of common stock were issued to the lender as commitment shares for the transaction.
On February 1, 2021, the Company entered into an employment agreement with the new Chief Operations Officer (COO) of the Company for a one-year term. Under the employment agreement, the COO will receive annual compensation of $140,000, and quarterly and annual discretionary bonus based on profitability and revenue growth. The agreement also includes an initial issuance of common stock in the form of Rule 144 stock. Subsequent stock issuances to be available on an annual basis upon renewal of agreement.
On February 4, 2021, the Company issued 50,000,000 shares of common stock under the amended and restated Equity Purchase Agreement dated December 29, 2020.
On January 4, 2021, the Company entered into an agreement with a consultant for the period January 4, 2021 through April 3, 2021 with monthly compensation of $5,000 and 2,500,000 shares of restricted common stock |